Dr. Ekwow Spio-Garbrah is calling on the Nana Addo administration to fast track the introduction of price regulation in Ghana.
The former Minister of Trade and Industry, Ekwow Spio Garbrah, recommendation comes after heightened calls for a reduction in the prices of goods and services after the cedi appreciated against the dollar.
Ghanaians have for the past three months been paying more for goods and services compared to their salaries. Speaking to CitiNews, Dr Ekwow Spio-Garbrah said a price-regulated environment will curb the insensitive profiteering by some traders.
President Akufo-Addo has also called to the business community to reduce the prices. The Ghana Cedi has appreciated against the American dollar.
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There are things about our country that do not make prices of goods stable and give people a free for all environment. Anybody can sell anything to you at any price. It doesn’t happen in many countries. Those are regulated environments some of which we must introduce to curb astronomical increases in prices which we don’t seem to have control over. Dr Ekow Spio Garbrah said.
The former Minister of Trade and Industry, also called on GUTA, GRTCC and others act accordingly with the current adjustments.
I appeal to manufacturers, traders and transport operators, that with the height of the cedi’s recent depreciation and increased prices of goods and services, to reduce their prices of goods and services now that the cedi is regaining much of its strength. I believe this is not only a fair request but also a just one. He said.
Minister of Trade and Industry, Alan John Kyerematen, is set to meet with the trade unions and the various transports unitons. Ghanaians both home and abroad, are calling for price reduction in goods and services.
The question is, how has the Cedi appreciation affected your pocket? Has prices and goods and your area been affected ? Refection on the ground seems very different.
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